IndiaAccording to data from the Agricultural and Processed Food Products Export Development Authority (APEDA),  it has been reported that India’s rice export earnings have declined to around $3.17 billion in the first six months of FY 2015-16 (April – September), which is  down about 17% from around $3.8 billion during the same period in FY 2014-15. Further, the earnings have declined despite an increase in export tonnage by about 5% to around 5.53 million tons in the six-month period from around 5.27 million tons last year due to a sharp decline in average export prices, as revealed by the APEDA.

In this context, further, it has been narrated that  on average basmati rice export prices declined by about 35% to around $920 per ton during the six-month period from around $1,406 per ton in comparison to last year. While, on the other hand, average non-basmati rice prices declined to around $364 per ton in April-September 2015 period from around $415 per ton as indicated in last year. In addition, as per the reports, it has been indicated that India exported around 2.08 million tons of basmati rice in April-September 2015 period, which is up about 27% from around 1.64 million tons exported during the same period last year.

India Queen Basmati Rice by Bharat Industry Pvt Ltd.
India Queen Basmati Rice by Bharat Industry Pvt Ltd.

Further, the sub-continent exported around 3.44 million tons of non-basmati rice in the six-month period, which is down about 5% from around 3.64 million tons as compared to last year. The decline in non-basmati rice exports can be attributed to a stiff competition with Thailand, Vietnam and Pakistan. The data also indicates that the earnings from basmati rice exports have declined to around $1.9 billion in April-September 2015 period from around $2.3 billion during the same period last year. Moreover, earnings from non-basmati rice exports have also declined to around $1.25 billion in April-September 2015 period from around $1.51 billion during the same period last year.

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